When Miami's Surfside
condo tower collapsed in 2021, the ripple effects extended
across the whole state.
The collapse claimed the lives of 98, and with any tragedy
of that magnitude, changes followed. On Thursday, Sept. 18,
at the Longboat Key Club, there was a symposium for
condominium owners, managers and homeowner association
leaders to navigate changing regulations.
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Dozens gathered at the Longboat Key Club Thursday, Sept. 18 for a symposium to explain how state laws have changed in the wake of the 2021 Surfside condominium collapse. |
Novak broke down the changing regulations
behind condo management into five categories: milestone
studies, structural integrity reserve studies, information
transparency, administration and technology, and oversight
and control.
The increased requirements are meant to identify
deficiencies in structures, ensure that managers have funds
put aside to fix any structural issues and increase
transparency among homeowner and condo owner associations.
It has also made condo management on the key more demanding.
“What has happened in the Legislature since 2021 is an
annual series of requirements placed on condo owners that,
along with storms, insurance, and inflation, have
significantly raised the cost of ownership, forcing many to
ask whether the benefits of living here are outweighed by
the costs,” Novak wrote. “The demands have turned what was
an attractive profession into one where, when combined with
the difficulties of island traffic jams, Longboat continues
to lose talented people to downtown and the mainland.”
Novak explained the state of Florida has invested big to
increase the amount of people inspecting condo towers to
ensure their structural integrity. Novak explained after the
event that the time of passive residential management are no
more.
“The easy days of the past, the comfortable days of the past
are no more,” he said. “You’re in a retirement community, a
leisure community, and yet in order to operate your
domiciles, you’ve got serious business in front of you. That
falls upon the board of directors and whomever you choose to
manage that. Every year the legislature puts new demands on
us, and you could say we’re close to the breaking point,
meaning that no one’s going to be able to comply with some
of this stuff, especially the smaller associations. The
state is going to have to put their foot on the brake pedal
or put some other tweaks in there.”
The symposium featured presentations from a variety of
companies who provide products and services to ease the
burden of condominium and HOA management including
technology systems that can perform electronic voting,
construction management and legal representation against
insurance companies.
